Northern Technologies International (NASDAQ:NTIC) Raised to “Hold” at Zacks Investment Research

Posted by on Jun 9th, 2022

Northern Technologies International (NASDAQ:NTIC – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “Northern Technologies International Corporation (NTIC) develops and markets proprietary environmentally beneficial products and technical services either directly or via a network of joint ventures and independent distributors in over fifty countries. NTIC’s primary business is corrosion prevention. NTIC has been selling its proprietary ZERUST and EXCOR rust and corrosion inhibiting products and services to the automotive, electronics, electrical, mechanical, military and retail consumer markets. The company’s technical service consultants work directly with the end users of NTIC’s products to analyze their specific needs and develop systems to meet their technical requirements. In addition, NTIC launched a new product line of compounds and finished products based on a portfolio of proprietary bio-plastic technologies under the Natur- Tec brand. NTIC also is in various stages of development with respect to several other emerging businesses. “

Several other equities analysts have also issued reports on NTIC. StockNews.com began coverage on shares of Northern Technologies International in a report on Monday. They set a “hold” rating on the stock. Northland Securities cut their price target on shares of Northern Technologies International from $24.00 to $18.00 in a report on Friday, April 8th. Finally, TheStreet lowered shares of Northern Technologies International from a “b-” rating to a “c+” rating in a report on Wednesday, April 20th.

Northern Technologies International stock opened at $11.65 on Thursday. The company has a market capitalization of $107.44 million, a PE ratio of 13.55 and a beta of 1.04. The company has a 50 day moving average price of $11.29 and a 200-day moving average price of $12.84. Northern Technologies International has a fifty-two week low of $10.02 and a fifty-two week high of $21.50.

Northern Technologies International (NASDAQ:NTIC – Get Rating) last issued its quarterly earnings data on Thursday, April 7th. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The business had revenue of $16.75 million for the quarter, compared to analysts’ expectations of $17.60 million. Northern Technologies International had a net margin of 12.73% and a return on equity of 7.24%. During the same period in the previous year, the business earned $0.13 earnings per share. As a group, research analysts expect that Northern Technologies International will post 0.43 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in NTIC. Barclays PLC grew its holdings in shares of Northern Technologies International by 521.3% during the third quarter. Barclays PLC now owns 2,013 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 1,689 shares during the last quarter. Compass Ion Advisors LLC purchased a new stake in shares of Northern Technologies International during the first quarter valued at $165,000. State Street Corp grew its holdings in shares of Northern Technologies International by 15.0% during the first quarter. State Street Corp now owns 19,227 shares of the specialty chemicals company’s stock valued at $231,000 after buying an additional 2,512 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in shares of Northern Technologies International during the fourth quarter valued at $401,000. Finally, Essex Investment Management Co. LLC grew its holdings in shares of Northern Technologies International by 2.5% during the first quarter. Essex Investment Management Co. LLC now owns 49,181 shares of the specialty chemicals company’s stock valued at $591,000 after buying an additional 1,201 shares during the last quarter. 37.86% of the stock is currently owned by hedge funds and other institutional investors.

Northern Technologies International Company Profile (Get Rating)

Northern Technologies International Corporation develops and markets rust and corrosion inhibiting products and services in North America, South America, Europe, Asia, the Middle East and internationally. It offers rust and corrosion inhibiting products, such as plastic and paper packaging, liquids, coatings, rust removers, cleaners, diffusers, and engineered solutions designed for the oil and gas industry under the ZERUST brand.

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